Fmr LLC Purchases 431,497 Shares of Crescent Energy (NYSE:CRGY)

Fmr LLC grew its stake in shares of Crescent Energy (NYSE:CRGY) by 191.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 657,337 shares of the company’s stock after buying an additional 431,497 shares during the period. Fmr LLC’s holdings in Crescent Energy were worth $7,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC lifted its stake in Crescent Energy by 618.9% in the second quarter. CWM LLC now owns 2,128 shares of the company’s stock worth $25,000 after purchasing an additional 1,832 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Crescent Energy during the second quarter valued at approximately $32,000. Spirit of America Management Corp NY bought a new position in shares of Crescent Energy in the second quarter worth approximately $36,000. Farther Finance Advisors LLC grew its holdings in Crescent Energy by 15,675.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,155 shares of the company’s stock valued at $35,000 after buying an additional 3,135 shares in the last quarter. Finally, Amalgamated Bank increased its position in Crescent Energy by 86.4% in the third quarter. Amalgamated Bank now owns 4,903 shares of the company’s stock worth $54,000 after purchasing an additional 2,272 shares during the last quarter. Hedge funds and other institutional investors own 52.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CRGY. Raymond James upped their target price on Crescent Energy from $19.00 to $20.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 21st. Mizuho lifted their price objective on shares of Crescent Energy from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Stephens lifted their target price on shares of Crescent Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. initiated coverage on shares of Crescent Energy in a report on Wednesday, September 18th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Truist Financial upped their price target on Crescent Energy from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.60.

Crescent Energy Stock Down 0.1 %

Shares of NYSE CRGY opened at $14.77 on Friday. The business has a 50-day moving average price of $13.60 and a 200 day moving average price of $12.32. Crescent Energy has a 52-week low of $9.88 and a 52-week high of $15.54. The stock has a market cap of $3.37 billion, a PE ratio of 23.81 and a beta of 2.17. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.12.

Crescent Energy (NYSE:CRGY) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.11. The company had revenue of $744.87 million during the quarter, compared to the consensus estimate of $793.88 million. Crescent Energy had a net margin of 2.17% and a return on equity of 12.53%. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts forecast that Crescent Energy will post 0.96 earnings per share for the current year.

Crescent Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, November 18th. Crescent Energy’s dividend payout ratio (DPR) is 77.42%.

Crescent Energy Profile

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.